TIAA CREF Investment Management LLC increased its stake in Mack Cali Realty Corp (NYSE:CLI) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 354,338 shares of the real estate investment trust’s stock after acquiring an additional 24,914 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.39% of Mack Cali Realty worth $7,640,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. boosted its holdings in Mack Cali Realty by 2.1% during the third quarter. Asset Management One Co. Ltd. now owns 192,240 shares of the real estate investment trust’s stock worth $4,539,000 after buying an additional 3,872 shares in the last quarter. Strs Ohio boosted its holdings in Mack Cali Realty by 2.8% during the fourth quarter. Strs Ohio now owns 143,400 shares of the real estate investment trust’s stock worth $3,091,000 after buying an additional 3,906 shares in the last quarter. Aperio Group LLC boosted its holdings in Mack Cali Realty by 18.3% during the fourth quarter. Aperio Group LLC now owns 39,186 shares of the real estate investment trust’s stock worth $845,000 after buying an additional 6,057 shares in the last quarter. Advisors Preferred LLC bought a new stake in Mack Cali Realty during the fourth quarter worth approximately $164,000. Finally, New Mexico Educational Retirement Board boosted its holdings in Mack Cali Realty by 73.9% during the fourth quarter. New Mexico Educational Retirement Board now owns 22,200 shares of the real estate investment trust’s stock worth $479,000 after buying an additional 9,437 shares in the last quarter. Hedge funds and other institutional investors own 99.28% of the company’s stock.
In related news, CFO David J. Smetana bought 5,800 shares of the business’s stock in a transaction on Tuesday, March 6th. The stock was bought at an average price of $16.86 per share, for a total transaction of $97,788.00. Following the transaction, the chief financial officer now directly owns 5,800 shares in the company, valued at $97,788. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.80% of the stock is owned by corporate insiders.
Mack Cali Realty (NYSE:CLI) last released its earnings results on Wednesday, February 21st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.50). Mack Cali Realty had a return on equity of 0.79% and a net margin of 2.16%. The company had revenue of $143.53 million during the quarter, compared to analysts’ expectations of $146.18 million. research analysts expect that Mack Cali Realty Corp will post 1.84 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, April 13th. Shareholders of record on Tuesday, April 3rd were given a $0.20 dividend. The ex-dividend date was Monday, April 2nd. This represents a $0.80 dividend on an annualized basis and a yield of 4.72%. Mack Cali Realty’s payout ratio is 35.87%.
A number of research firms recently commented on CLI. Zacks Investment Research lowered shares of Mack Cali Realty from a “hold” rating to a “sell” rating in a research note on Tuesday, January 2nd. SunTrust Banks set a $28.00 price objective on shares of Mack Cali Realty and gave the stock a “buy” rating in a research note on Monday, January 22nd. Barclays decreased their price objective on shares of Mack Cali Realty from $24.00 to $21.00 and set an “underweight” rating for the company in a research note on Tuesday, January 30th. ValuEngine lowered shares of Mack Cali Realty from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Stifel Nicolaus raised shares of Mack Cali Realty from a “sell” rating to a “hold” rating in a research note on Monday, February 26th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.83.
About Mack Cali Realty
Mack-Cali Realty Corporation is a self-administered and self-managed real estate investment trust (REIT). The Company owns and operates a real estate portfolio of Class A office and office/flex properties. It operates in three segments: commercial and other real estate, multi-family real estate and multi-family services.
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